Capitol Report (June 15): GOP Flips South Texas Congressional Seat; Biggest Rate Hike in 28 Years

The Federal Reserve raised its key interest rate by three quarters of a percent, the largest rate hike in 28 years.

Gas prices are averaging over $5 a gallon. The White House is now calling on oil companies to increase capacity for less profit. The oil industry is striking back, pointing to what they call misguided policies.

With the U.S. economy in flux, what are the key factors driving the instability and how long might this last? David Brat, dean of the business school at Liberty University, joins us to discuss.

The Biden administration announced a new round of military aid—another billion dollars to Ukraine. The Pentagon is planning to ship weapons from its own stockpile.

Four states held primary elections on Tuesday, with many candidates holding former President Donald Trump’s endorsement. In Texas, newcomer Mayra Flores won a special election, picking up a House seat for Republicans.

Joining us to assess the primaries Tuesday night in four states is New York Congresswoman Nicole Maliotakis. She also tell us why she thinks a record number of New York City police officers are retiring and what this means for the nation’s largest city.


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